Numerex Corp, a provider of business services, technology, and products for the worldwide machine-to-machine (M2M) market, has announced financial results for its third quarter ended September 30, 2011.
“Numerex delivered another solid performance in the third quarter with 22% growth in its M2M subscription base and 15% growth in recurring revenues compared to the third quarter of last year.
We finished the quarter with over 1.3 million subscriptions that now generate nearly $10 million in quarterly recurring revenues,” stated Stratton Nicolaides, chairperson and CEO of Numerex.
“Strong demand from our channel partners for our M2M services, particularly our network and application platforms, was the main catalyst for growth. We will continue to concentrate our resources on developing and marketing our ‘network-as-a-service’ and horizontal M2M platforms, in addition to providing our cloud-based ‘software-as-a-service’ that enables M2M application deployment in nearly any vertical market.”